nVent Electric plc (NYSE:NVT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of nVent Electric plc (NYSE:NVT) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $81.60.

NVT has been the subject of several recent research reports. The Goldman Sachs Group raised their price target on nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Deutsche Bank Aktiengesellschaft assumed coverage on nVent Electric in a research note on Monday, March 11th. They issued a “buy” rating and a $83.00 target price on the stock. Citigroup increased their price target on nVent Electric from $71.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Barclays lifted their price objective on shares of nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada lifted their price objective on shares of nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th.

Insiders Place Their Bets

In other nVent Electric news, insider Joseph A. Ruzynski sold 2,500 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total transaction of $160,575.00. Following the sale, the insider now directly owns 36,013 shares in the company, valued at approximately $2,313,114.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Randall J. Hogan sold 184,572 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $64.03, for a total value of $11,818,145.16. Following the sale, the director now directly owns 8,277 shares in the company, valued at approximately $529,976.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph A. Ruzynski sold 2,500 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total transaction of $160,575.00. Following the completion of the sale, the insider now owns 36,013 shares in the company, valued at $2,313,114.99. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 400,252 shares of company stock worth $25,713,777. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On nVent Electric

Several institutional investors and hedge funds have recently made changes to their positions in NVT. Congress Asset Management Co. MA acquired a new position in nVent Electric in the 3rd quarter valued at about $116,908,000. FMR LLC raised its stake in nVent Electric by 41.8% in the 3rd quarter. FMR LLC now owns 6,556,055 shares of the company’s stock valued at $347,405,000 after purchasing an additional 1,932,142 shares during the last quarter. Norges Bank acquired a new position in nVent Electric in the 4th quarter valued at about $109,630,000. Massachusetts Financial Services Co. MA raised its stake in nVent Electric by 68.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,952,040 shares of the company’s stock valued at $209,419,000 after purchasing an additional 1,604,534 shares during the last quarter. Finally, Robeco Schweiz AG raised its stake in nVent Electric by 3,911.6% in the 3rd quarter. Robeco Schweiz AG now owns 1,315,800 shares of the company’s stock valued at $69,724,000 after purchasing an additional 1,283,000 shares during the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Trading Down 0.8 %

NVT opened at $72.54 on Friday. The firm has a market cap of $12.04 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 1.60 and a beta of 1.35. nVent Electric has a 52 week low of $40.19 and a 52 week high of $78.98. The business’s 50 day moving average is $70.19 and its two-hundred day moving average is $60.16. The company has a quick ratio of 1.22, a current ratio of 1.82 and a debt-to-equity ratio of 0.56.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.75 by $0.03. nVent Electric had a net margin of 17.38% and a return on equity of 17.53%. The firm had revenue of $861.20 million during the quarter, compared to the consensus estimate of $866.90 million. During the same quarter in the prior year, the firm earned $0.66 EPS. nVent Electric’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, research analysts predict that nVent Electric will post 3.24 EPS for the current year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.05%. nVent Electric’s payout ratio is currently 22.55%.

nVent Electric Company Profile

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.